Equiduct Systems Ltd.

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Equiduct Systems Ltd.
Founded 2009
Headquarters London
Key People Peter Randall

Equiduct Systems Ltd. is an electronic trading platform that was formerly majority owned by Citadel Securities. It is operated under the regulatory structure of the Berlin Stock Exchange (also known as Börse Berlin AG).[1] Knight Capital Group is minority owner of the platform. It is considered “Pre-trade transparent and MiFID compliant” by ESMA and was launched in 2009 following the introduction of MiFID, which led to the fragmentation of liquidity across multiple trading venues.

The technology competes with other Multilateral Trading Facilities in Europe such as Chi-X, Turquoise, BATS Europe and Nasdaq OMX Europe.[2] which have emerged after the introduction of Markets in Financial Instruments Directive which began in November 2007.

Equiduct aims to provide a fast and cost-effective trading platform for European equities. Its technology is designed to provide order execution at the best price.

History[edit]

In July 2009, Citadel Securities, a division of Citadel Investment Group, made a "significant" investment in Equiduct.[3][4] As a result, the Berlin Stock Exchange saw its 53 percent stake in the pan-European electronic trading platform diluted to just over 10 percent.[5]

In January 2013, Citadel decided to cease market-making operations on the venue.[6]

The move provided further funding for the technology firm, which aims to be a major European trading platform.[7]

Berlin Stock Exchange took a majority stake in EASDAQ NV, which operated under the name Equiduct, in September 2007. The goal for the deal was to offer the exchange's customers a wide range of European financial products.[8]


Products and Services[edit]

  • PartnerEx, a retail best execution service designed to address the challenges faced by brokers of providing best execution in a fragmented market. It is the only pan-European, on-exchange, order by order Best Execution facility.
  • SpotVBBO, an institutional best execution service
  • HybridBook, a "vanilla" central limit order book

Key People[edit]

References[edit]